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In a large 12 inch frying pan cook together butter, olive oil, garlic, and mushrooms over medium-high heat until mushrooms are tender. This should be about 5 minutes.
Reduce heat to medium and add in cream cheese and cook until cream cheese has melted.
Reduce heat to medium-low and add in parmesan cheese, heavy cream, Italian seasoning, oregano, salt, and pepper.
Simmer for 5 minutes, stirring often. Remove from heat and sprinkle with parsley before serving.